Top 5 Reasons Not to Skip the
- It gives you an “out”
Typically, a standard CT real estate purchase contract provides a clause giving you 14 days from accepted date of contract (the day the seller signs) to conduct a home inspection and thus, back out of the contract and receive your deposit back should you not like what the home inspection states. After the 14 days are up, you are granted an additional 3 days of negotiation in which you can negotiate with the seller to have them fix certain items or give you a credit for the items. It’s a solid negotiating item. Should an agreement not be reached or the inspection report is too bad for you to even want to consider the home, it gives you an “out” and you’ve lost no money except the cost of the home inspection.
2. Many insurance companies and lenders require it
Depending on your home owner insurance provider and lender, they may require you to conduct a home inspection. They want to ensure that they’re not insuring/financing a home that will become a money pit quickly.
3. It can save you money in the long run
Buying a home is an expensive process. You’ve saved up the money for a down payment and then is seems like every where you turn you have an additional expense….attorney, appraisal, home insurance and inspection. It can get overwhelming. However, don’t skimp on your home inspection! A good home inspection will save you money in the long run. It will identify what repairs and maintenance the home requires and the cost associated with those. It can prepare you for large expenses in the upcoming months/years or even help you get those expenses covered by the seller. You want a thorough, extensive home inspection so that you’re not surprised with a large malfunction in a mechanical product 2 months after you move in. The home inspector will also tell you how to properly maintain your home so that you don’t end up with huge issues in years to come. Expect a home inspection to run you around $500.
4. It gives you peace of mind
A home inspection will identify hazards. Hazards that are not always visible to the naked eye such as radon. Did you know that radon is the second leading cause of lung cancer in the US? Did you also know that January is National Radon Month? Read more here.
5. It protects your investment
Buying a home is the largest financial purchase you’ll ever make. As your Realtor, we work to ensure that you’re buying your home at a fair, competitive market value and are not over paying for your home. An inspector works to ensure that the largest financial purchase you’ve made is in fact a good purchase. They identify the perks and pitfalls your home has to offer so that you’re not buying something with a blind eye.
Photo Credit: A-Pro Home Inspections